2. The Greenville Goal has just isued a tu makes a range of goats for vartous field sports. Fhe $15 par-value preferred stock that pays.an annual dividendof $1. The preferred stock matures in 10 years. At that time the holders of this preferred stock will be entitled to receive, at their option, either $15, or one share of common stock, with a value up to $2d per share. (If the common stock is selling for more than $20 in 10 years, the preferred stockholders will receive a fractional share of common stock worth $20.) If investors require an 11 percent rate of return on preferred stocks of this risk and maturity, what is the maximum price that you would expect to have to pay for one share of this preferred stock today? (1o pts) $15 par va lue shck $4 anasal diien2 Pre fergel slock b yours 24 25 $15.60 fiG.00 20 21 17 45 35 or 15y00 PMT 30 FU 98.90 PV =